First UKAA and Australia BTR Forum lays foundations for greater international collaboration

A new collaboration between the UKAA (the UK Apartment Association) and key players in the emerging Australian Build to Rent (BTR) sector resulted in the inaugural UKAA and Australia BTR Forum taking place on 27th July 2023. The initial virtual meeting was used to define the structure and purpose of the forum, which will connect the UKAA and its members to BTR specialists in Australasia. 

Attendees agreed that the UKAA and Australia BTR Forum will provide a vehicle for sharing knowledge and best practice and supporting global market alignment. Opportunities for collaboration and mutual support will also be considered by the forum, along with how to address challenges facing both BTR sectors.

“The UKAA already has a well-established and mutually beneficial relationship with the National Apartment Association (NAA) in the US. Now, we are thrilled to be taking international collaboration to the next level with the UKAA and Australia BTR Forum. Australia is at a key point in its Build to Rent journey and we look forward to sharing lessons and opportunities across international borders as a result of the new forum.”

Brendan Geraghty, CEO, UKAA

The introductory forum meeting was attended by representatives from Lendlease, Greystar, i2c, Godwin Group, Woods Bagot, Howells, Keyah Consulting, BTR News / BTR News Australia, Mac Capital, Uniti Group, Celsius, JLL, EY, Home Apartments, HomeViews and DLA Piper, as well as the UKAA.

According to a report prepared by EY for the Property Council of Australia, the country is experiencing a decline in outright property ownership (from 35% in 2011 to 31% in 2021) and an increase in renting (from 29% in 2011 to 31% in 2021). Millennials, in particular, were highlighted as actively choosing a rental lifestyle due to a combination of the flexibility it offers and home ownership affordability constraints.

The new UKAA and Australian BTR collaboration will ensure that the opportunities this situation presents in Australia will be responded to robustly, based on international learnings and best practice. The information and opportunity flow will work both ways, with the UK BTR sector benefitting accordingly.

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